Equinox Gold's Q2 2025: Key Contradictions in Greenstone Mining, Los Filos Restart, and Asset Sales

Greenstone mine production and grades, Los Filos mine restart timeline and costs, grade improvements at Greenstone, Los Filos restart and exploration activities, noncore asset sales are the key contradictions discussed in Equinox Gold Corp.'s latest 2025Q2 earnings call.



Production and Cost Trends at Greenstone:
- Equinox Gold's Greenstone mine delivered a 23% increase in mining rates and a 20% improvement in processing rates in Q2 2025 compared to Q1.
- The improvements were driven by focused efforts on ramp-up, including the addition of auxiliary equipment and optimizing blast designs, targeted towards minimizing dilution and improving ore presentation to the mill.

Valentine Gold Mine Ramp-up:
- First ore to the Valentine Gold Mine is expected before the end of August, with first gold anticipated approximately a month later.
- The ramp-up is on track, with key circuits tested and commissioning crews working through performance verification, supported by significant investment in critical spares.

Strategic Asset Sale and Capital Allocation:
- Equinox Gold sold its Nevada assets for $115 million, indicating a strategic focus on optimizing its portfolio and creating value.
- The sale is part of a strategy to focus on high-quality, high-return organic growth and rationalize the portfolio, with ongoing exploration efforts in assets like Nicaragua, Valentine, and Mesquite.